Edge Therapeutics (NASDAQ:EDGE) was upgraded by investment analysts at BidaskClub from a “sell” rating to a “hold” rating in a report released on Saturday.
A number of other research firms have also issued reports on EDGE. Credit Suisse Group restated an “outperform” rating and issued a $17.00 target price on shares of Edge Therapeutics in a report on Thursday. Zacks Investment Research upgraded Edge Therapeutics from a “sell” rating to a “buy” rating and set a $12.00 target price for the company in a report on Monday, November 6th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $20.00.
Shares of Edge Therapeutics (EDGE) traded up $0.85 during trading hours on Friday, hitting $12.40. The stock had a trading volume of 140,432 shares, compared to its average volume of 131,020. The firm has a market cap of $356.42, a P/E ratio of -7.95 and a beta of 2.52. Edge Therapeutics has a one year low of $7.30 and a one year high of $12.70. The company has a debt-to-equity ratio of 0.20, a current ratio of 8.34 and a quick ratio of 8.34.
In other news, insider Brian A. Leuthner sold 5,000 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $10.11, for a total value of $50,550.00. Following the completion of the sale, the insider now owns 87,736 shares in the company, valued at $887,010.96. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Brian A. Leuthner sold 2,500 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $10.92, for a total value of $27,300.00. Following the completion of the sale, the chief executive officer now owns 102,736 shares of the company’s stock, valued at approximately $1,121,877.12. The disclosure for this sale can be found here. Insiders sold 28,361 shares of company stock valued at $292,035 in the last 90 days. Corporate insiders own 36.19% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of EDGE. Janus Henderson Group PLC acquired a new position in shares of Edge Therapeutics in the second quarter worth $21,962,000. JPMorgan Chase & Co. increased its stake in shares of Edge Therapeutics by 223.4% in the third quarter. JPMorgan Chase & Co. now owns 379,075 shares of the biotechnology company’s stock worth $4,063,000 after acquiring an additional 261,850 shares during the last quarter. Sphera Funds Management LTD. increased its stake in shares of Edge Therapeutics by 122.5% in the third quarter. Sphera Funds Management LTD. now owns 333,737 shares of the biotechnology company’s stock worth $3,581,000 after acquiring an additional 183,737 shares during the last quarter. State Street Corp increased its stake in shares of Edge Therapeutics by 16.3% in the second quarter. State Street Corp now owns 277,352 shares of the biotechnology company’s stock worth $2,847,000 after acquiring an additional 38,909 shares during the last quarter. Finally, Goldman Sachs Group Inc. acquired a new position in shares of Edge Therapeutics in the second quarter worth $374,000. 50.26% of the stock is currently owned by institutional investors and hedge funds.
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About Edge Therapeutics
Edge Therapeutics, Inc is a clinical-stage biotechnology company that discovers, develops and seeks to commercialize hospital-based therapies capable of transforming treatment paradigms in the management of acute, life-threatening critical care conditions. The Company’s initial product candidates target rare, acute, life-threatening neurological and other conditions.
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